[Market Highlight] Cosmax Rises for Third Straight Day...Hits Record High

Cosmax rose for the third consecutive day, reaching a new 52-week intraday high.

As of 9:40 a.m. on June 2, Cosmax was trading at 220,000 won on the Korea Exchange, up 10,000 won (4.76%) from the previous session. This marks a new 52-week high.

Expectations for stable earnings growth appear to have served as the recent driver of the stock's rise. Kim Myungjoo, a researcher at Korea Investment & Securities, stated, "Thanks to building a strong reputation in the cosmetics market over the past five years, Cosmax is expected to establish itself as a partner not only for Korean companies but also for global firms in the medium to long term." He added, "Considering the stable growth of the global cosmetics industry due to the rising median age and the potential increase in the proportion of OEM and ODM production for legacy brands, Cosmax's stable earnings growth is clear." Korea Investment & Securities raised its target price for Cosmax by 4% to 265,000 won.